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W pattern

Discussion in 'Technical Analysis' started by shwetagnema, Oct 21, 2013.

  1. shwetagnema

    shwetagnema Active Member

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    its a buy.....W pattern , target 380, 400 and sl 333
     
    shwetagnema, Oct 21, 2013
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  2. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Yes but it is @ resistance, so go long above 359 or 381 only.
     
    sanjay_sansanwal, Oct 21, 2013
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  3. saptarshi_sachin

    saptarshi_sachin Responder

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    Is ITC still looking weak at current levels ? Can I sell Itc for tgt of 320 stop loss of 332 ?
     
    saptarshi_sachin, Oct 28, 2013
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  4. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    For me it is in " NO TRADE ZONE" cause it is in between its support area, for me short below 321-320 and buy above 332 -333 for safer side and stop for short should be 323-325 for target of 314-305-297 and stop for long should be same 325-323 for target of 340-350-355 and then should be careful between 355-360 level if manage to cross then target would be 375.

    For me it is forming topping out pattern and if breached 310 then may touch 290-285 level as well which is a strong support.

    Rishi ur levels are perfect and similar to me but right now I can't suggest to go short or long but yes if u can take risk then this would I prefer what u ask?

    So this would be ur call only cause what I learnt is when in confusion " Don't Trade", so I would stick with that only.
     

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    sanjay_sansanwal, Oct 29, 2013
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  5. shabbir

    shabbir Administrator Staff Member

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    My view is same as Sanjay. You have missed the 2 shoring opportunities at 350ish level and 335ish level and so just wait for the spike in this stock if there is any for shorting yet again. I doubt it will be as chart looks really weak.
     
    shabbir, Oct 29, 2013
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  6. saptarshi_sachin

    saptarshi_sachin Responder

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    Thanks Sanjay & Shabbir for your views - I will stick to "Don't trade" option as of now then.

    :)
     
    saptarshi_sachin, Oct 29, 2013
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  7. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    My pleasure.
     
    sanjay_sansanwal, Oct 29, 2013
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  8. raj_samant2002

    raj_samant2002 New Member

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    There are better stocks available than ITC at current situation.
     
    raj_samant2002, Nov 1, 2013
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  9. shabbir

    shabbir Administrator Staff Member

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    Exactly
     
    shabbir, Nov 2, 2013
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